Turkey's finance chief: Action plan ready to ease markets

People queue outside a currency exchange shop in an Istanbul's market, Friday, Aug. 10, 2018. A financial shockwave ripped through Turkey on Friday as its currency nosedived on concerns about its economic policies and a dispute with the U.S., which President Donald Trump stoked further with a promise to double tariffs on the NATO ally. (AP Photo/Mucahid Yapici)

ISTANBUL (AP) — Turkey's finance minister said Sunday that the government has prepared "an action plan" aimed at easing market concerns that have led to a slump in the value of the nation's currency.

In an interview with the newspaper Hurriyet, Treasury and Finance Minister Berat Albayrak also said the government had no plans to seize foreign currency deposits or convert deposits to the Turkish lira.

"As of Monday morning, our institutions will take the necessary actions and will share the necessary announcements with markets," Albayrak was quoted as saying.

"All our precautions and actions plans are ready," he added, without elaborating.

Turkey was hit by a financial shockwave this past week as the lira nosedived 14 percent Friday over concerns about the government's economic policies and a trade and diplomatic dispute with the United States. The currency's value has fallen more than 40 percent since the start of the year.